August 16, 2010 / 12:42 PM / 9 years ago

UPDATE 1-ITW affirms earnings forecasts

NEW YORK, Aug 16 (Reuters) - Industrial products maker Illinois Tool Works Inc (ITW.N) reported a 16 percent increase in operating revenue in its latest three-month period and affirmed its third-quarter and full-year earnings forecasts.

ITW said transportation and power systems sales were up by more than 20 percent in the three months ended July 31.

Three other segments posted double-digit increases in operating revenues. The food equipment and decorative surfaces segments posted lower sales.

ITW affirmed its third-quarter profit forecast, which calls for earnings from continuing operations between 72 cents and 84 cents per share. Its 2010 forecast of $2.82 to $3.08 per share was also unchanged from July 20, when the company reported second-quarter results.

Wall Street estimates call for the company to earn 81 cents a share in the third quarter and $3.05 for the year, according to Thomson Reuters I/B/E/S. (Reporting by Nick Zieminski; Editing by Lisa Von Ahn)

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